Daily Precious Metals Update

January 28, 2009 – The future of precious metals is looking bullish even though we see gold and silver decline in demand today while platinum makes some small jumps based on speculation that the current government measures to fix the global economy will be a success in the near future. President Barack Obama is preparing massive stimulus and bank plans of around $900 billion in order to restore 4 million jobs and fix the foundation of the United States economy but many people are feeling sceptical as to whether or not these plans will actually work or just cause inflation for our nation in the long run. For example, a recent survey of corporate chiefs shows that 8/10 believe that the upcoming stimulus injections will be a failure, and this alone shows that we could be seeing a very positive future of precious metals as investors could continue seeking safe haven assets as the recession deepens into a possible Depression. Investors in general are very weary of investments right now even with the mainstream choices such as stocks and bonds. We certainly have an exciting year ahead of us.

Today gold is trading in the area of $885.10 per ounce, down $12.60 for the trading day but still a $4.50 increase for the month while silver falls five cents in the area of $11.99 per ounce and platinum rises four dollars to around $949 per ounce. Projections for the future of precious metals continue looking bullish and if the economy keeps on getting worse we could be seeing a very exciting year for us investors. Invest well and have a beautiful day.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Precious-Metal.org